Shoppers Stop to expand retail in smaller cities
Rising incomes, increasing awareness and high aspirations in rural areas are encouraging several retailers to make a beeline for tier II and III towns. Shoppers Stop is one of those. It is planning to open five new stores in 2018-19 and will enter four new locations of Calicut, Nashik, Guwahati and Bhubaneswar. The retailer has earmarked R120 crore for opening five department stores, twelve beauty stores and technology upgradation.
Currently, Shoppers Stop has 83 stores operational in 38 cities spanning across 4.26 million sq ft. In May, international brand H&M opened one store in Mysuru and another in Aurangabad. The company currently operates 32 stores across Delhi-NCR, Mumbai, Hyderabad, Chennai, Bengaluru, Pune, Amritsar, Indore, Coimbatore, Kolkata, Mohali, Mysore, Ahmedabad and Raipur.